Japanese Yen Technical Outlook: USD/JPY, EUR/JPY, GBP/JPY
In the world of forex trading, the Japanese Yen remains a key player. Let’s take a closer look at the technical outlook for three major currency pairs involving the Japanese Yen.
USD/JPY: The USD/JPY pair has been trading in a tight range recently, with support around the 109.50 level and resistance near 110.50. Traders will be watching for a break above or below these levels to determine the next direction for this pair.
EUR/JPY: The EUR/JPY pair has been showing some strength, with a bullish trend forming on the charts. The pair is currently trading above the 130.00 level, and if it can break through resistance at 131.00, we could see further upside momentum.
GBP/JPY: The GBP/JPY pair has been consolidating in a range between 152.00 and 153.50. Traders will be looking for a breakout above or below this range to determine the next move for this pair.
Overall, the technical outlook for the Japanese Yen against these major currency pairs is mixed. Traders will be closely monitoring key support and resistance levels to determine the next potential direction for these pairs.